https://www.taxtmi.com/circulars?id=11599 Exim Bank provided a Line of Credit to finance exports for a Rural Electrification Project in Togo, requiring that a substantial majority of contract value be supplied from India while a limited portion (excluding consultancy) may be procured abroad; the Credit Agreement prescribes timelines for opening Letters of Credit and disbursement. Shipments must be declared on GR/SDF forms. No agency commission is payable under the Line of Credit, though exporters may use own funds or Exchange Earners' Foreign Currency balances to pay commission in free foreign exchange subject to realization and prevailing instructions. Authorized Dealer banks must inform exporters and obtain details from Exim Bank. Directions issued under FEMA. en-us Fri, 20 Apr 2012 00:00:00 +0530 Sat, 21 Apr 2012 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11599 Exim Bank provided a Line of Credit to finance exports for a Rural Electrification Project in Togo, requiring that a substantial majority of contract value be supplied from India while a limited portion (excluding consultancy) may be procured abroad; the Credit Agreement prescribes timelines for opening Letters of Credit and disbursement. Shipments must be declared on GR/SDF forms. No agency commission is payable under the Line of Credit, though exporters may use own funds or Exchange Earners' Foreign Currency balances to pay commission in free foreign exchange subject to realization and prevailing instructions. Authorized Dealer banks must inform exporters and obtain details from Exim Bank. Directions issued under FEMA. Circulars FEMA Fri, 20 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11599